Econometric Techniques

This subject has the following teaching availabilities in 2016:

Estimated total time commitment of 120 hours per semester

ECOM90002 Econometrics or equivalent.

None

None

ECOM40006 Econometric Techniques

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

Estimation and inference techniques for models involving a single equation and systems of equations are introduced. Normally topics include asymptotic theory, maximum likelihood estimation, classical testing procedures, generalised least squares estimation, seemingly unrelated regression models, stochastic regressors, instrumental variables, generalised method of moments, simultaneous equations models (including VARs) and model-selection procedures.

On successful completion of this subject students should be able to:

• Investigate the characteristics of data that influence the choice of model and estimation technique for modelling and estimating economic relationships.
• Apply suitable estimation techniques to a range of economic and econometric models, interpret the results from these models, and use the results for forecasting and policy analysis.
• Describe the theory underlying inference techniques used in econometrics.

• 2-hour examination, end of semester (70%);
• Three 1000-word assignments all equally weighted (10%) due in weeks 5,9 and 12 (30%).

You will be advised of prescribed texts by your lecturer.

This subject is not available as a breadth subject.

On successful completion of this subject, students should have improved the following generic skills:

• Evaluation of ideas, views and evidence
• Synthesis of ideas, views and evidence
• Critical thinking
• Application of theory to economic policy and business decision making
• Accessing economic and other information
• Summary and interpretation of information
• Application of Windows software
• Using and designing computer programs
• Statistical reasoning
• Problem solving skills
• Collaborative learning and teamwork
• Written communication

Students may not gain credit for both ECOM90013 Econometric Techniques and ECOM40006 Econometric Techniques.